The global cartilage regeneration market is projected to reach USD 779.8 Million by 2021 from USD 414.6 Million in 2016, growing at a CAGR of 13.5% during the forecast period of 2016 to 2021.
Increase in obese population and rising incidence of sports injuries are the major factors driving the growth of cartilage regeneration market. However, high cost of therapy and unfavorable reimbursement scenario are the major factors that are restraining the growth of the market.
The cartilage regeneration market is segmented on the basis of treatment modalities, application, and region. Based on treatment modalities, the market is segmented into cell based approaches and non-cell based approaches. Cell based approaches are further segmented into chondrocyte transplantation, growth factor technology, and stem cells. Non-cell based approaches are segmented into tissue scaffolds and cell-free composites. The cell based approaches segment is expected to account for the largest market share in 2016.This treatment modality segment is also expected to be the fastest growing segment in the market. The large share and high growth of this segment can be attributed to long-term results of these therapies in terms of cartilage repair which makes it most preferred therapy.
On the basis of applications, the market is segmented into hyaline cartilage and fibrocartilage. Among this segments, the hyaline cartilage segment is expected to account for the largest market share in 2016. Hyaline cartilage application segment is also expected to be the fastest growing application segment in the cartilage repair/ cartilage regeneration market. The large share and high growth of this segment can be attributed to the high prevalence of cartilage damage in hyaline cartilage.